Colorado, New York, United Kingdom, 2nd Oct 2024, -
Kani Payments, the disruptive global data reconciliation and reporting platform, has today announced a partnership with Cardaq, the fast-growing card issuing and acquiring specialist serving low and medium-risk businesses.
This latest partnership adds to Kani’s impressive momentum, signalling unprecedented demand for its award-winning Software as a Service (SaaS) platform.
Under this new partnership, Kani will provide Cardaq with a comprehensive, innovative and unique solution that includes regulatory and compliance reporting, reconciliations, QMR reporting, Mastercard fee and invoice analysis, interchange and acquiring fee analysis.
The solution has been designed with scalable implementation in mind, offering the potential to expand and develop as Cardaq grows in the future – through the possibilities of deeper integration, more advanced reporting capabilities, and continuous support for regulatory and compliance needs.
Initially available to Cardaq’s UK customers, the strategic move will enable increased growth and regulatory adherence for Cardaq while also promising an enhanced solution for its customers.
Kani’s SaaS platform rapidly ingests and standardises transaction data from diverse sources, reconciles large datasets in seconds, and delivers a range of pre-formatted or bespoke reports. This saves its clients $500,000 per year through automation of common reporting outputs and reconciliation.
The platform is also the only data reporting and reconciliation tool that can automate the required output of the complex card scheme reports – Mastercard’s Quarterly Mastercard Reporting (QMR) and Visa’s Global Operating Certificate (GOC) – from three weeks to just three minutes. Improving this process helps businesses prevent financial loss and ensure regulatory and scheme compliance.
Roger Binks, Chief Commercial Officer at Kani Payments, commented: “The partnership between Kani Payments and Cardaq addresses significant industry challenges, including the implementation of automating reconciliations at pace, effective regulatory compliance, and fee apportioning. Ultimately, Kani Payments exists to help disruptive fintechs like Cardaq to thrive and grow with our automated data reporting and reconciliation platform that gives it the space it needs to scale.
“By automating manual processes, improving reconciliation accuracy, and providing detailed reporting and analysis tools, we are enabling Cardaq to focus on giving its customers outstanding products and services. We are proud to do the heavy lifting of making complex data simple and standardised.”
Hugo Remi, Chief Executive Officer at Cardaq, added: “Kani Payments was the clear choice for us due to its comprehensive and customisable reporting tools, expertise in regulatory compliance, and the ability to automate complex financial reconciliations.
“The option to immediately integrate with existing systems and manage a high volume of transactions were added benefits for us and our customers. We are confident that the implementation Kani’s solution will give all our customers a unique service level and the highest accuracy in financial reporting.”
Established in London in October 2011, Cardaq is a dedicated card issuing and acquiring company that specialises in delivering proficient issuing & acquiring solutions for businesses in low and medium-risk domains. Cardaq is a Principal Member of Visa, Mastercard, and China UnionPay, and offers a full premium line of products, including Visa Signature, Mastercard World Elite, and China UnionPay Diamond cards.
Kani has enjoyed stellar success since its inception in 2018, empowering clients with enhanced transaction reconciliation, regulatory and card scheme reporting, merchant settlement, customer fund safeguarding and more.
So far, Kani has reconciled more than €24 billion in processed payments volume for start-ups, scale-ups, and established players across the fintech spectrum, including Sodexo, Pismo, Earthchain, CLOWD9, and Frost.
Kani was also accepted onto the highly sought-after Mastercard Start Path Global programme in 2022 (which has just a 2% acceptance rate), and the FIS Accelerator programme in 2023 as one of just 10 high-potential fintech companies.
Organization: Cardaq Limited
Contact person: Media relations
Website: https://www.cardaq.co.uk/
Email: support@cardaq.co.uk
Contact Number: 192383475321
City: Colorado
State: New York
Country: United Kingdom
Release id: 10420
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